14 October 2023 , 17:36
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The New York Jets declined the chance to sign Aaron Rodgers to injury insurance ahead of the 2023 NFL season so his season-ending torn Achilles' has potentially cost the AFC East franchise more than £16.5 million.
Over 18 years, the Green Bay Packers routinely took out disability insurance on Rodgers, who has suffered a number of injuries during his illustrious career. Despite the Jets signing the four-time MVP to a fully guaranteed deal worth £62m this offseason, the franchise declined to do the same.
It proved to be a costly decision just four snaps into the 2023 season. Amid a tsunami of expectation and anticipation, Rodgers’ Jets debut ended prematurely when the veteran quarterback sustained the injury on the opening series.
The Jets were reportedly offered multiple insurance policies for the 39-year-old’s contract but ultimately chose not to purchase one. While the decision is consistent with the Jets’ general approach when it comes to contract insurance, it could cost New York over £16.5m in insurance proceeds.
High-premium coverage, known as temporal total disability (TTD) policies, allows teams to recoup significant portions of their injured players’ guaranteed salaries should they suffer season-ending issues. The NBA and NHL boast rules that require teams to insure their best-paid players, but the NFL and MLB leave it to the discretion of each franchise.
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While insurance terms vary dramatically depending on a player’s age, position and injury history, the policies offered to the Jets reportedly featured premiums ranging from £800,000 to £3.3m. However, the higher-end options covered approximately 60 percent of the £30m Rodgers was guaranteed this season.
Richard Giller, an experienced insurance recovery attorney, believes Rodgers’ case should pave the way toward NFL-wide TTD coverage going forward. Giller denounced the Jets’ decision, insisting it was a "no-brainer" to cover Rodgers.
Aaron Rodgers instantly knew he suffered a torn Achilles when he was sacked against the Buffalo Bills (AP)“If they actually had an offer to insure a 39-year-old quarterback with 19 years of service, they should have taken it at any cost,” Giller told Sportico. “I know hindsight is 20/20, but he is a 39-year-old quarterback.”
Throughout the NFL, teams regularly insure more than a dozen players. But the Jets are an anomaly; it has been at least a decade since New York took out a TTD policy on a single player, according to Sportico.
Jets owner Woody Johnson, who bought the team for £524m back in 2000, perhaps wishes his team operated differently. Whiffing on Rodgers’ insurance has cost the franchise immensely, and now they’re left to deal with the consequences.